A New Funded Prop Trader At The5ers Proprietary Fund,

Agi. M. from Switzerland is our new funded trader. After a few attempts, he finally succeeded in qualifying and Became one of the The5ers funded traders; he is one of the top forex traders I have seen recently; as we can see in the statement below, his result seems excellent, very stable with a low DrawDown of 1.94%. This kind Of result is precisely what The5ers is looking for. Congratulations, Agi.M.

Here are the statement and interview with Agi.M.

Name: Agi.M
Age: 39
Country: Switzerland

Please describe your trading journey. How long have you been trading? When do you become consistent? What made the change for you?

• I started trading stocks as a teenager. I moved to Forex about 7 years ago. The first years were tough. I made some good money to lose it some days later. Then, I read everything I could about the financial markets. But all these trading courses, books, and indicators could not make my trading profitable. Two years ago, I started to read about money management. The books of Van Tharp were handy. That changed my approach towards the markets.

How were you introduced to trading?

• My mother, Theresia, and my brother, Axel, introduced me to financial markets as a teenager. We used to watch the markets on TV daily. Later, I studied business management and earned my Ph.D. Still, I had a long way to go to become profitable.

Describe your trading plan.

• I determine the long-term trend on the daily and weekly charts. I try to trade breakouts in the trend direction on H1 and H4. I want to trade a breakout and not the whole trend. My stop loss is about three times the daily average true range. So, an open position has enough room to breathe.

Tell us about your trading routine.

• In the morning, at about 6:30 am, I go through the day’s most important news. Then, I look for setups and open some pending orders. Usually, I go to work and do not have time to monitor the trades. During the day, some of these orders will be triggered. I hold an open trade for about 7-8 hours. During the night, I do not trade or switch off my computer.

How do you manage risk in your trading? Do you have a risk management Technique you can explain?

• Every trade has a stop loss based on the average true range. I never risk more than 1,5% of the total equity per trade. I try to stick to a leverage of 1:5. So for a 10,000 USD account, my usual position size is about 0,1-0,15 lots.

What was your biggest challenge in trading, and how did you overcome this?

• The biggest challenge is to stick to my trading plan. Whenever trading gets emotional with feelings like greed or fear, this will affect the quality of my trades. In the first years, I used to spend too much time with entries. Now, it is a minor issue. I spend the most time on position sizing, pending orders, and exits.

What was the key moment of your trading career?

• During the Indus World Championship Finals 2017, I understood that having a good trading plan is not sufficient. It is essential to experience drawdown periods and take your lesson out of it. Taking small losses is healthy for your account.

In your opinion, what are the most important characteristics for maintaining a steady trading Career?

• Patience: Do not impose your will on the market. Small leverage about 1:5. Do not trade during significant news events. Be aware of black swans.

What is the most essential trading mental aspect, and how do you apply it in your routine?

• I try to make my trading as dull as possible. So I can leave my computer and do other things whenever I get too emotional, which could mean my position size is too big. My advice is to reduce leverage from 1:400 to 1:10 or lower. So you cannot open more trades.

What is your strategy to successfully pass the5%ers evaluation account?

• I knew the most critical part was cutting losses for a low drawdown. So it was a breakout strategy, risking 1,5% of equity per trade. I used to have significant-stop losses to let the position breathe. I hold a trade for about 7-8 hours.

Please share your recommendations with online resources that were significant to your development path. Names and links are appreciated.

• – Van Tharp’s definitive guide to position sizing,
  – https://www.myfxbook.com/
  – Jesse Livermore: Reminiscences of a Stock Operator. 
  – http://www.babypips.com/
  – https://readthemarket.com
  – https://www.set-and-forget.com/

Please write anything you think is important but was not asked.

• It would be best if you had a life next to trading. My wife, Romeena, and daughter bring me great joy. Your surroundings must be in harmony with your trading. I could only grow with the support of my wife and mother.

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